Walton has expanded its export basket further as the local electronics giant started shipments of made in Bangladesh compressors for refrigerators and air conditioners to Turkey.
"We aim to export one million units of compressors to some African, Middle East countries and Turkey by 2021," said Meer Muzahedin Islam, chief executive officer of Walton Compressor.
The number would hit five million by 2025, as some more export destinations will be explored by the time, he said.
"The company was busy producing compressors for the local market until last year. Now we are trying to serve the foreign nations, as we have already increased our capacity to produce four million compressors a year."
On July 7, the compressors were sent to Turkish company Kargi, which imports, exports and markets hi-tech spare parts for domestic and industrial products throughout Turkey and also abroad, especially in Europe.
Walton's International Business Unit President Edward Kim and Kargi's Managing Director Emin Kargi signed a deal in this regard, making the Turkish brand a distributor of Walton products in the transcontinental Eurasian nation.
"The initiative will pave the way for the expansion of our compressor market not only in Turkey but also across Europe as Turkey is being known as the business hub of Eurasia," said Kim.
Walton is also working to produce a new series of compressors equipped with latest technologies, Islam said.
"The commercial production of that series will increase the present export volumes of Walton compressors by several times."
Commerce Minister Tipu Munshi inaugurated Walton's compressor export through a virtual press conference, arranged by the local brand at its corporate headquarters in the capital.
Walton now has presence in over 20 countries around the world.